Financial Sector (Collection of Data) (reporting standard) determination No. 34 of 2006 - Reporting Standard ARS 330.3 - Other Operating Expenses
APRA's clean sale and separation requireAPRA's clean sale and separation requirements are set out in APS 120 Funds Management and Securitisation and related Guidance Notes AGN 120.3 Purchase and Supply of Assets (including Securities Issued by SPVs) (AGN 120.3) and AGN 120.1 Disclosure and Separation. Whenever the clean sale and separation requirements are not met, all the assets, liabilities, revenues and expenses of the SPV are to be consolidated with the ADI’s reported amounts.
Start here
Get a plain-English read of APRA's clean sale and separation require
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 34 of 2006 - Reporting Standard ARS 330.3 - Other Operating Expenses.
Reporting Form ARF 330.3
Other Operating Expenses
Instruction Guide
General directions and notes
Reporting entity
This form is to be completed by all locally incorporated authorised deposit-taking institutions (ADIs) (including Specialist Credit Card Institutions (SCCIs)) on both a licensed ADI and consolidated ADI group basis (where applicable).
ADIs incorporated in Australia which do not have any controlled entities, or interests in joint venture operations are not required to complete the section of the form relating to the consolidated ADI.
Foreign ADIs and SCCIs operating through branches in Australia are required to complete this form for the Australian branch only.
Licensed ADI
This refers to the operations of the reporting ADI on a stand-alone basis.
Securitisation deconsolidation principle
Except where stated otherwise on this form, reporting entities must treat any securitisation program special purpose vehicles (SPVs) in which the ADI (or a member of its consolidated group) participates in accordance with APRA’s clean sale and separation requirements as non-consolidated independent third parties. As a result, for reporting purposes all assets, liabilities, revenues and expenses of these SPVs must be excluded from the ADI’s reported amounts. Where relevant, report on this form any exposure to or other transaction between the ADI and any such SPV as if such transaction was conducted with an independent third party, regardless of whether the SPV or its assets is consolidated for accounting purposes.
APRA's clean sale and separation requirements are set out in APS 120 Funds Management and Securitisation and related Guidance Notes AGN 120.3 Purchase and Supply of Assets (including Securities Issued by SPVs) (AGN 120.3) and AGN 120.1 Disclosure and Separation. Whenever the clean sale and separation requirements are not met, all the assets, liabilities, revenues and expenses of the SPV are to be consolidated with the ADI’s reported amounts.
Consolidated ADI group
This refers to the global operations of the ADI and all its controlled entities (where relevant), consolidated in accordance with Australian accounting standards (AASB 127 Consolidated and Separate Financial Statements (AASB 127) and AASB 3 Business Combinations (AASB 3)).
‘Controlled entity’ (subsidiary), ‘parent entity’
These terms are defined in accordance with AASB 127 and AASB 3.
The basis of consolidation required in this form is in accordance with the accounting consolidated group. The accounting consolidated group is to be determined in accordance with the requirements of the Australian accounting standards, notably AASB 127 and AASB 3.